BTS’ Members RM, Jin, and J-Hope sold over $8 Million, HYBE Stock
According to regulatory filings, BTS members Jin, J-Hope, and RM recently sold over 32,000 shares of their management business HYBE’s stock, netting them $8.4 million. The sale of 31,986 combined shares took place just ahead of the K-pop superstars’ string of sold-out “Permission to Dance on Stage” gigs in Los Angeles and their recent American Music Awards artist of the year win, according to Bloomberg.
The shares in the firm, formerly known as Big Achieved, were sold between October 13 and November 9, just before the stock of the Seoul-based company hit an all-time high on November 16, more than double its initial public offering price from October 2020. According to Bloomberg, HYBE founder Bang Si-Hyuk granted the group’s seven members 478,695 shares — a 1.41 percent interest in the firm now valued at roughly $165 million — before the IPO.
The following is a breakdown of reported share sales: Jin owns 16,000 shares valued at $4.1 million; J-Hope owns 5,601 shares valued at $1.57 million, and RM owns 10,385 shares valued at $2.75 million. According to Hakyung Park of Korean Investment & Securities, HYBE made a record third-quarter profit, with album sales increasing to 4.85 million units from 900,000 the previous year.
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The group’s oldest member, Jin, who turns 29 on Saturday (December 4), has been granted military deference until late 2022, according to the story. The BTS members, whose ages range from 24-28, may have been looking to cash in “as much earnings as possible” before their pending mandatory two-year military conscription begins. According to Billboard, each member’s stake in HYBE is worth roughly 20 billion won ($17 million).
Furthermore, according to the Yonhap News Agency, all seven are expected to enter quarantine and miss the next Mnet Asian Music Awards in Seoul on December 11 due to new limitations imposed by their home country in the aftermath of the new Omicron version of the COVID-19 virus.
The group is scheduled to perform at the iHeartRadio Jingle Ball in Los Angeles on Friday (December 3), after which they will return to South Korea, where they will be subject to a newly announced mandatory 10-day quarantine for all international travelers entering the country, regardless of vaccination status; South Korean citizens will be allowed to self-isolate at home. A BTS official had not responded to a request to confirm the stock sales and quarantine at press time.
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